I say now is the time to buy in Chicago. If you are a Buyer and don't yet understand what a Buyer's Market means - it means you need to do your research and start buying! Someone asked me in the Rent vs Own workshop at the Chase Legacy Tour where is the best place to buy. I told the group that you have to pay attention to what is going on in the news. You have to look at where the City of Chicago is upgrading roads, putting in new transportation and building or improving parks and public spaces. We have just opened the new Dan Ryan, they are working on I57 now and it's my opinion that almost any property within 1/2 to 1 mile of these improvements are worth a second and third look. In most cases you have to have vision and staying power. It's back to the good old days of LOCATION, LOCATION, LOCATION and if the location does not look inviting today, what do you think it will be in 7 to 10 years? The talk about the Olympics coming caused quite a stir. I say even if we don't get the Olympics, there is a non-profit that has been organized for the specific purpose of bringing World Class Athletics events to Chicago. Washington Park is a perfect location for a large stadium. It is located next to Hyde Park, the University of Chicago and it's only a few minutes to the "new" Dan Ryan, Lake Shore Drive and the Loop. I say, do your homework now and don't wait too long or the deals that are in that area will be long gone and you don't want to miss it!
Re/Max Lakeshore - Grand Haven, MI
I think that is true of many areas. I work the Lakeshore area in Michigan (West side). The market has hit bottom and I have been telling people the same thing. Unfortunately, the media keeps telling people differently.
May 11, 2008 09:04 AM
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